Chronic Pain Treatment Market to Reach $143.2 Billion by 2031 | Pfizer Inc., Abbott Laboratories, Eli Lilly and Company, Novartis AG, Johnson & Johnson

The Chronic Pain Treatment Market study by DataM Intelligence offer an in-depth analysis of the market, presenting insightful observations, statistics, historical data, and industry-validated market insights. The report delves into the competitive positioning of key companies, examining factors such as product offerings, pricing strategies, financial health, product portfolios, growth initiatives, and geographical reach.

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What is the projected growth rate (CAGR) of the Global Chronic Pain Treatment market from 2024 to 2031, and what is the market value expected to change by 2031?

Global Chronic Pain Treatment Market reached US$ 83.8 billion in 2022 and is expected to reach US$ 143.2 billion by 2031 growing with a CAGR of 7.1% during the forecast period 2024-2031

Chronic pain treatment refers to the management and alleviation of pain that persists for weeks, months, or even years, often beyond the expected healing period. It can result from conditions like arthritis, nerve damage, fibromyalgia, or back pain. Treatment options typically include a combination of medications (such as analgesics, antidepressants, or anticonvulsants), physical therapy, psychological support (like cognitive behavioral therapy), and interventional techniques (e.g., nerve blocks or injections). In some cases, lifestyle changes, alternative therapies (such as acupuncture or massage), and even surgery may be recommended to help improve quality of life and manage pain effectively.

Key Developments:

❁ On May 16, 2023, Abbott announced that its spinal cord stimulation (SCS) device had received approval from the U.S. Food and Drug Administration. This SCS device is designed to treat chronic back pain, especially in individuals who are either unable to undergo surgery or are ineligible for surgical treatment. The approval followed the results of a distinct study, which showed that Abbott's proprietary BurstDR SCS technology significantly improved pain levels, daily functioning, and emotional well-being in individuals suffering from chronic back pain.

❁ On January 11, 2023, CombiGene entered into a collaboration agreement with Danish company Zyneyro to continue developing treatments for chronic pain conditions. CombiGene's pipeline includes CG01, aimed at treating drug-resistant epilepsy, and CGT2, which is being developed for lipodystrophy. Additionally, CombiGene signed an exclusive collaboration and licensing deal with U.S.-based Spark Therapeutics, valued at up to USD 328.5 million, to further develop CG01.

List of the Key Players in the Chronic Pain Treatment Market:

Pfizer Inc., Abbott Laboratories, Eli Lilly and Company, Novartis AG, Johnson & Johnson, Sanofi SA, Teva Pharmaceutical Industries Ltd, Baxter International, Merck & Co. Inc, Boston Scientific Corporation

Research Process:

Both primary and secondary data sources have been used in the global Chronic Pain Treatment Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

Segment Covered in the Chronic Pain Treatment Market:

By Indication: Neuropathic Pain, Analgesic Infusion, Ablation Devices

By Product Type: Drugs, Devices

By Distribution Channel: Hospital, Clinics, Ambulatory Centers

Regional Breakout:

The global Chronic Pain Treatment Market report focuses on six major regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa.

✫ North America (U.S., Canada, Mexico)

✫ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

✫ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

✫ South America (Colombia, Brazil, Argentina, Rest of South America)

✫ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

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This Report Unveils:

✔ Go to Market Strategy- A roadmap to successfully product launch or service in the target market.

✔ Gain a clear picture of the market's health and growth trajectory through neutral analysis.

✔ Deep Market Insights delve into development trends, competitor landscape, supply and demand dynamics, brand share & pricing analysis year-over-year growth patterns, and key players' performance.

✔ Upon request, we can provide customized reports focusing on specific regions or countries, offering a granular view of their markets.

✔ Identify high-potential niche segments and regions poised for significant expansion.

✔ Analysis of Market Size (historical and forecast) Total Addressable Market (TAM), Serviceable Available Market (SAM), and Serviceable Obtainable Market (SOM) to understand the market's overall size and your achievable market share.

✔ Gain a comprehensive understanding of the competitive landscape, including market share distribution, key players (innovators, startups, laggards, and pioneers), and their respective strengths and weaknesses.

**The full version of the report includes an in-depth analysis of emerging players and startups, which will provide valuable insights into the evolving market landscape and key strategies being adopted**

Chapter Outline:

Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by region, product type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.

Chapter 2: key insights, key emerging trends, etc.

Chapter 3: Manufacturers competitive analysis, detailed analysis of Chronic Pain Treatment manufacturers competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.

Chapter 4: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product revenue, gross margin, product introduction, recent development, etc.

Chapter 5 & 6: Revenue of Chronic Pain Treatment in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and market size of each country in the world.

Chapter 7: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the Chronic Pain Treatment market in different market segments.

Chapter 8: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the Chronic Pain Treatment market in different downstream markets.

Chapter 9: Analysis of industrial chain, including the upstream and downstream of the industry.

Chapter 10: The main points and conclusions of the report.

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Frequently Asked Questions

☞ What is the expected growth rate of the global Chronic Pain Treatment market for the forecast period?

☞ What are the key driving factors that are responsible to shape the fate of the Chronic Pain Treatment market during the forecast period?

☞ What will be the overall size of the market during the analysis period?

☞ What are the prominent market trends which influence the development of the Chronic Pain Treatment market across various regions?

☞ Who are the key market players and the market strategies that have helped them to secure the leading position in the global market?

☞ What are the challenges and threats that are likely to act as a barrier to the growth of the Chronic Pain Treatment market?

☞ What are the major opportunities that the companies can get to attain success in the world?

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